Business
Nvidia Stock Slips After Big Tuesday Rally as Huang Confirms Vera Rubin Chip Is Now in Production Today
Shares of Nvidia fell 1.48% on Wednesday, trading at $208.67 as of 11:58 a.m. EDT, down $3.13 on the day, as the stock cooled off following Tuesday’s sharp 4.06% rally, even as Chief Executive Jensen Huang moved to dismiss reports of delays affecting the company’s next-generation Vera Rubin AI chip.
Wednesday’s pullback comes after Nvidia shares surged from $203.53 to $211.80 during Tuesday’s session, a move that pushed the stock up 8.63% over the preceding two weeks and helped Nvidia push back against recent characterizations of the stock as a relative laggard within the broader chip sector rally.
Huang Addresses Vera Rubin Delay Concerns
Huang directly addressed recent supply chain reports suggesting Nvidia’s next-generation Vera Rubin AI accelerator had experienced delays in its volume production ramp due to thermal lid issues affecting server integration. In comments this week, Huang dismissed those delay reports and affirmed that production of the Vera Rubin platform remains on track at what he described as “giant” volumes.
That confirmation carries significant weight for investors given Vera Rubin’s central role in Nvidia’s next generation of AI computing products, with the platform expected to serve as a key growth driver for the company heading into its next major product cycle.
US Opens Door for Additional AI Chip Exports
Adding to Wednesday’s news flow, the U.S. government has opened the door for several major technology companies, including Nvidia, Amazon, Apple and SpaceX’s AI unit, to export AI chips to the United Arab Emirates, according to reports. That development follows a broader pattern of incremental policy shifts around U.S. export controls on advanced AI hardware, an area that has remained a persistent source of both opportunity and uncertainty for Nvidia’s business throughout 2026.
Separately, reports indicated that a subsidiary of Chinese telecommunications company ZTE has received a license to purchase Nvidia’s H200 AI accelerator chips, while a U.S. official told Reuters that only a small number of H200 chips have actually been shipped to China so far under recently eased export rules.
Memory Sector Volatility Continues to Ripple Through Chip Stocks
Nvidia’s modest pullback Wednesday comes amid continued volatility across the broader memory chip sector, which has periodically spilled over into logic-focused chip designers like Nvidia in recent sessions. Turmoil surrounding South Korean memory maker SK Hynix, whose U.S.-listed shares have swung dramatically since its recent Nasdaq debut, has continued to inject volatility into the broader AI hardware complex, even as Nvidia’s direct exposure to memory pricing dynamics remains more limited than pure-play memory producers.
A Stock Fighting Back Against a ‘Laggard’ Narrative
Despite recent volatility, Nvidia’s stock has shown renewed strength in recent sessions, with shares up 13.6% for the year as of Tuesday’s close. That performance has helped push back against a narrative that had developed earlier in the year characterizing Nvidia as underperforming relative to some other AI-linked chip names during the broader 2026 rally.
Nvidia’s stock remains well below its all-time high of $236.54, reached on May 14, even after Tuesday’s strong session, leaving the stock down roughly 10% to 11% from that peak level.
Strong Underlying Business Metrics
Nvidia’s most recent quarterly results showed continued acceleration in the company’s core business. Revenue grew 70.7% year over year to $82.0 billion, while gross margin rose to 74.1% for the quarter. Nvidia management has characterized overall growth as accelerating, with revenue approaching record levels, partly aided by H200 chip shipments to China under the recently eased export framework.
Analysts Remain Overwhelmingly Bullish
Wall Street continues to hold an overwhelmingly positive view of Nvidia’s stock. According to recent analyst tracking, roughly 92% of analysts covering the company maintain a “Buy” rating, with an average price target of approximately $301.62, implying substantial upside from current trading levels. KeyBanc recently reiterated an “Overweight” rating on the stock following its own analysis of the company’s supply chain and production outlook.
Bank of America has also reiterated a bullish stance on Nvidia, describing the company as a “unique, durable growth franchise” in recent commentary, reflecting continued institutional confidence in Nvidia’s long-term positioning within the broader AI infrastructure buildout despite near-term stock volatility.
AI Infrastructure Spending Remains a Key Theme
Nvidia’s business continues to benefit from what analysts describe as accelerating capital expenditure commitments tied to artificial intelligence infrastructure across the technology sector. Broader industry estimates suggest AI-related capital expenditures could cross $1 trillion in aggregate spending as soon as next year, according to recent industry analysis, underscoring the scale of the ongoing infrastructure buildout that continues to underpin bullish sentiment toward Nvidia and other companies positioned at the center of that spending wave.
A High-Beta Stock in a Volatile Sector
Nvidia’s stock continues to exhibit significant volatility, with a beta coefficient of 1.44 reflecting its tendency to move more sharply than the broader market in both directions. That volatility has been on full display over the past several weeks, as shares have swung between strong single-day rallies, such as Tuesday’s 4% gain, and more modest pullbacks like Wednesday’s session, often in response to shifting sentiment across the broader semiconductor and AI infrastructure investment landscape.
What Comes Next
With Nvidia’s next earnings report not scheduled until August 26, investor attention in the near term is likely to remain focused on incremental developments tied to Vera Rubin production progress, evolving U.S. export policy toward China and other markets, and broader sentiment shifts across the AI infrastructure investment theme. Huang’s continued public reassurances about Vera Rubin’s production timeline appear aimed at maintaining investor confidence in Nvidia’s next-generation product roadmap, a factor that is likely to remain central to the stock’s performance heading into the second half of 2026.
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One Nation has claimed victory in the Secret Harbour by-election to win its first ever seat in the Western Australian legislative assembly.
With almost 40 per cent of voting counted, One Nation candidate Luke Herdegen declared himself to be the new member for the former Labor stronghold.
By 10pm on Saturday, Mr Herdegen was looking comfortable with almost 54 per cent of the vote on a two-party preferred basis.
Labor’s Georgia Tree was trailing at 46 per cent.
On primary figures, One Nation was heading towards 36 per cent when Mr Herdegen claimed the win.
Liberal candidate Ryan Robertson had just 17 per cent, or nearly 2,300 votes, at the same time.
Premier Roger Cook had repeatedly warned Labor was in the fight of its life to retain Secret Harbour after the retirement of 19-year incumbent Paul Papalia.
The win for Mr Herdegen comes despite One Nation cruising through the campaign with no targeted policies and the revelation he had been a heavy cocaine user while living in London in 2016 and associated with “Albanian underworld figures”.
When Ms Hanson came to Perth during the campaign she told reporters she had no idea of that part of her candidate’s background.
“I haven’t heard that about him, at all,” Mrs Hanson said after speaking at a Perth breakfast event.
“If there is an issue there, I’m sure it will be brought to my attention. But I will be asking questions about it.”
Mr Herdegen said he had written about his experience with drugs, alcohol and gangsters to help others going through addiction.
The Liberal candidate, Ryan Robertson, offered a stark difference in background to the One Nation hopeful.
He had served in the Australian navy and was once submariner of the year.
Liberal leader Basil Zempilas repeatedly denied his plan was to run dead in Secret Harbour because One Nation had the better chance of unseating Labor.
But as the by-election campaign was about to get underway, Mr Zempilas described One Nation as “an opportunity” rather than a threat.
That prompted federal MP Andrew Hastie, whose seat of Canning overlaps with the state seat of Secret Harbour, to criticise Mr Zempilas for running up the white flag.
One of the strangest, and possibly costly moments of the campaign, came when Ms Tree was standing behind Premier Roger Cook on August 2, when a $156 million campaign commitment to build a train station at Karnup was announced.
“Can I ask few questions for Georgia, please,” veteran political reporter Geof Parry said, as the premier appeared to wind-up the press conference.
“Nuh, we need to keep moving,” Mr Cook responded while moving away from the lectern.
“Sorry about that.”
The decision to prevent Ms Tree from speaking, and speculation about why it was made, distracted from her bid to hold Secret Harbour.
“It was not ideal because I do want to talk about Karnup and I’m happy to take any questions you have today,” Ms Tree said at later press conference in Mandurah.
Wall Street’s main indices have ended lower, with investors turning cautious after Federal Reserve chair Kevin Warsh reiterated the central bank’s focus on fighting inflation, increasing prospects for a rate hike.
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Deputy PM Phiphat Ratchakitprakarn urged enhanced safety standards in Thailand’s bus industry and AI use in inspections, emphasizing passenger safety, staff training, and collaboration among transport and tourism sectors.
Key Points
- Deputy Prime Minister and Transport Minister Phiphat Ratchakitprakarn emphasized the need for stricter safety standards in Thailand’s passenger bus industry and advocated for increased use of artificial intelligence in vehicle inspections during the Thai Bus Operators Association’s 2026 Annual General Meeting.
- He stressed the importance of passenger safety, highlighting the necessity for operators to educate travelers on emergency procedures, including locating exits and evacuation methods. The Department of Land Transport was tasked with enhancing vehicle inspections and driver monitoring through AI technology.
- Phiphat urged collaboration among transport and tourism authorities, tour companies, and bus operators to ensure safe, efficient transportation for international visitors, which is vital for their initial experience in Thailand. He reaffirmed that cooperation between government and private sectors is key to improving service standards.
Deputy Prime Minister and Transport Minister Phiphat Ratchakitprakarn has called for tighter safety standards across Thailand’s passenger bus industry and greater use of artificial intelligence in vehicle inspections. Speaking at the Thai Bus Operators Association’s 2026 Annual General Meeting in Bangkok today (Aug 26), Phiphat placed passenger safety at the center of efforts to modernize road transport and support tourism.
Safety requirements should cover vehicles, drivers, onboard personnel, and passenger readiness for emergencies. Operators were urged to ensure travelers know the locations of emergency exits, how to open emergency doors, and what to do during an evacuation. The Department of Land Transport was also instructed to tighten vehicle inspections and driver oversight while exploring AI-assisted systems to improve inspection accuracy and efficiency.
Phiphat also called for closer coordination among transport and tourism authorities, tour companies, and bus operators. Passenger buses are often among the first services international visitors encounter after leaving airports, railway stations, or seaports, making safe vehicles, professional drivers, and quality service important to their first impressions of Thailand.
The transport minister affirmed that cooperation between government agencies and private operators will remain critical to improving service standards and delivering reliable transportation for residents and visitors.
Source : Thailand’s Transport Minister Urges Tighter Safety Standards for Passenger Buses
The Tourism Authority of Thailand (TAT) partners with Private Luxury Events to host Ultra Thailand 2027, connecting Thailand’s luxury tourism with global networks, emphasizing Thai culture, personalized service, and high-value tourism.
Ultra Thailand 2027: Elevating Thailand’s Luxury Travel Network
Bangkok is set to host Ultra Thailand 2027, a landmark event organized by the Tourism Authority of Thailand (TAT) in collaboration with London-based Private Luxury Events. Scheduled for June 20–24, 2027, at the Four Seasons Hotel Bangkok, this prestigious gathering marks Ultra’s first venture into Southeast Asia. The invitation-only event aims to connect Thailand’s tourism industry with an exclusive international network catering to ultra-high-net-worth travelers. TAT Governor Ms. Thapanee Kiatphaibool highlighted that Ultra Thailand 2027 will embed Thailand into one of the most influential luxury travel networks globally. The initiative aims to highlight a unique expression of Thai luxury, celebrating personalized service, cultural richness, and world-class experiences.
Fostering High-Value Business Opportunities
Ultra Thailand 2027 serves as a platform for building invaluable business connections within the global high-value travel market. The event brings attention to Thailand’s luxury offerings, providing local tourism partners with enhanced business opportunities. Ultra is distinguished as one of the most exclusive gatherings for ultra-luxury travel, attracting top-tier buyers and VIP representatives who design bespoke journeys. With a community comprising esteemed organizations like AMAN and Orient Express, Ultra continues to sell out annually. As Bangkok gains prominence on the global wealth stage, the event aligns with the city’s rising ultra-high-net-worth population, underscoring Thailand’s place in Asia’s emerging wealth markets.
A New Era for Thai Tourism and Luxury
Amid increasing investments from leading hospitality brands in Bangkok, such as Aman Nai Lert and The Langham, TAT focuses on promoting high-value tourism rooted in wellness and personalisation. This strategic direction embraces the Thai spirit of “nam jai”—generosity and warmth—allowing Ultra’s community to experience a deeper, more authentic expression of luxury. Christy Kuplic, Managing Director of Private Luxury Events, emphasized Bangkok’s growing significance in luxury travel, noting the timely arrival of Ultra amid expanded private wealth and international investment in Thailand. Private Luxury Events, renowned for fostering quality connections within the luxury travel industry, recognizes Bangkok’s momentum and is eager to explore its potential alongside TAT in 2027.
Source : TAT partners Private Luxury Events to host Ultra Thailand 2027 in Bangkok
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President Donald Trump signs an order renaming Lake Ontario to Lake America amid trade tensions with Canada.
Google Maps has begun displaying “Lake America” in place of Lake Ontario for users in the United States after President Donald Trump ordered the body of water renamed.
Google said the change began rolling out Saturday after the U.S. Geographic Names Information System (GNIS) formally updated the lake’s name from Lake Ontario to Lake America.
“Since we update Google Maps to reflect name changes in official government sources, which is GNIS for the U.S., people using Maps in the U.S. will see ‘Lake America,’ those in Canada will continue to see ‘Lake Ontario,’ and those outside of the U.S. and Canada will see both names,” Google said.
CANADA PLANS TARIFF RETALIATION AFTER TRUMP WARNS ITS LEADERS TO ‘FALL IN LINE’
US President Donald Trump displays a signed executive order in the Oval Office of the White House in Washington, DC, on Aug. 27, 2026. (Al Drago/The Washington Post/Bloomberg via Getty Images)
“These updates follow our long-standing policy for bodies of water with names that vary from country to country, and are starting to roll out now,” the company added.
White House communications director Steven Cheung highlighted the change on X on Sunday.
“It’s official! LAKE AMERICA on Google Maps,” Cheung wrote.
TRUMP SAYS 50% TARIFFS ON CANADIAN VEHICLE, STEEL IMPORTS TO HIT JAN 1
“Making the Great Lakes Even Greater” signage during an executive order signing in the Oval Office of the White House in Washington, DC, on Aug. 27, 2026. (Al Drago/The Washington Post/Bloomberg via Getty Images)
The update comes days after Trump signed an executive order Thursday directing the Interior Department to rename Lake Ontario to Lake America in the United States.
“The Lake will continue to play a pivotal role in shaping America’s future and the global economy,” Trump wrote.
“In recognition of this flourishing economic resource and its critical importance to our Nation’s economy and its people, I am directing that the Lake officially be renamed as Lake America.”
TRUMP PAUSES 50% TARIFFS ON CANADA HOURS BEFORE DEADLINE AFTER ANNOUNCING POTENTIAL DEAL
A Canadian flag flies along the Lake America waterfront in Toronto on Aug. 27, 2026. (Cole Burston / AFP via Getty Images)
The president’s decision also comes amid escalating trade tensions between Washington and Ottawa.
U.S. tariffs of 50% on about $20 billion worth of Canadian goods took effect Aug. 22 after trade talks collapsed.
Canada retaliated with tariffs on roughly $20 billion in U.S. imports that are set to take effect Sept. 8, according to Reuters.
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Google could not immediately be reached by FOX Business for comment.
Reuters contributed to this report.
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